Tuscany International Drilling Inc.
TSX : TID

Tuscany International Drilling Inc.

April 01, 2011 16:32 ET

Tuscany International Drilling Inc. Announces Appointment of New Chief Financial Officer and Creation of the Office of Vice President, Finance and Reporting

CALGARY, ALBERTA--(Marketwire - April 1, 2011) - Tuscany International Drilling Inc. (TSX:TID) (the "Corporation") announces that, to better manage the growth of the Corporation's operations, the board of directors of the Corporation has approved a reconfiguration of the financial department of the Corporation whereby effective today, Mr. Matt Moorman, presently the Executive Vice President, Corporate Finance and Business Development of the Corporation, was appointed the Chief Financial Officer of the Corporation and the current Chief Financial Officer, Mr. Bruce Moyes, was appointed Vice President, Finance and Reporting. With the financial oversight responsibilities of the Corporation allocated to two senior officers of the Corporation, it is management's belief that it will be in a stronger position to efficiently manage its business and improve its corporate governance.

Mr. Moorman is a professional accountant with over 25 years experience in corporate and financial management. Before joining the Corporation in August of 2010, Mr. Moorman acted as Vice President Finance and Treasurer with Provident Energy Ltd. since 2003. Prior thereto, he acted as a member of the senior management team with TransAlta Corporation and TransAlta Power Income Trust, serving in senior financial and commercial positions from 1997 to 2003. Mr. Moorman received his Masters of Business Administration from the University of Toronto and has a CMA designation from the Certified Management Accountants Association of Ontario/Alberta.

Mr. Moyes is a chartered accountant with over 25 years of accounting and financial experience in a variety of entities. Prior to joining the Corporation, Mr. Moyes acted as Vice President, Finance and Treasurer of Ensign Energy Services Inc., a land-based international oilfield services contractor whose shares are listed on the TSX. Prior thereto, Mr. Moyes was a Manager of Financial Planning and Analysis at Canadian Pacific Limited from 1996 to 1999. Prior thereto, Mr. Moyes was a Senior Manager with PricewaterhouseCoopers LLP, where he worked from 1985 to 1996.

About Tuscany

Tuscany, a corporation headquartered in Calgary, Alberta, is engaged in the business of providing contract drilling and work‐over services along with equipment rentals to the oil and gas industry. Tuscany is currently focused on providing services to oil and natural gas operators in South America and has operating centers in Colombia, Ecuador, Brazil and Peru.

The Toronto Stock Exchange has not reviewed, nor does it accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tuscany International Drilling Inc.
    Walter Dawson
    Chairman and CEO
    (403) 265-8258
    or
    Tuscany International Drilling Inc.
    Reg Greenslade
    President
    (403) 265-8258
    or
    Tuscany International Drilling Inc.
    Matt Moorman
    CFO
    (403) 265-8258
    or
    Tuscany International Drilling Inc.
    100, 522-11th Avenue S.W.
    Calgary, Alberta
    (403) 265-8258
    (403) 265-8793 (FAX)